Is Autumn a Good Time to Buy?

Sunday, September 30, 2018

With news raising concerns about the property market, some wary would-be buyers and sellers might be thinking of staying put. And surely it's Spring – not September – that is the best time to buy, when there are lots more properties on the market? Not to mention Brexit......But are there legitimate reasons to put your plans on hold? It seems not. The Home Owner's Alliance looked at why Autumn is actually a great time to sell up and buy a new home.

1. The holidays are over and it’s back to business
According to Rightmove there are 16% more homes listed for sale this September than there were during the summer months. We’re all back from our summer holidays, the kids are finally back in school after the six weeks holiday and it’s time to get on with life – and if it's on your to do list - that means moving home. If you’re selling you’re also buying, so now is the time to be looking about for that perfect new home.

Last year, September, October and November were three of the most popular months for sales, with in excess of 100,000 transactions recorded by HMRC in each month.

2. You could be in your new home by Christmas
The other major factor that makes buyers and sellers eager this time of year is the impending festive season; it’s that race against time to complete on your sale and purchase and “get in for Christmas“.

Analysis of data from our estate agent comparison tool EstateAgent4Me shows homes listed in October have taken an average of 65 days to sell over the past few years. This means that homeowners who want a sale agreed this side of Christmas should be looking to list their house for sale by mid-October.

Getting your house on the market this Autumn will give you a bit of wiggle room.

3. Moving costs will be cheaper
The busiest time for moving house is spring and summer. September marks the start of the off-peak season meaning once you come to move you’ll be able to get a decent discount.

According to MyMovingReviews.com, moving firms cut their costs by as much as 30% in autumn and winter.

4. The mortgage market is bouncing back
According to figures from Moneyfacts there are currently 5054 residential mortgage deals on offer, that’s up from 4791 in June, showing mortgage lenders are getting back to business after the summer.

“With the end of the year just around the corner many providers are starting to up their game to their yearly targets after the summer lull,” says Charlotte Nelson of Moneyfacts. “With a boost in product numbers lenders are simply not offering standard products any more. Instead a range of offerings with different fees and incentives so buyers can tailor the products to better suit their needs.”

“Despite the increase to the Bank of England Base Rate rates fixed rates are starting to fall for example the average two-year fixed rate stood at 2.53% in August now it is slightly lower at 2.51%. Any borrower looking for a new deal now would be wise to shop around to ensure they get the best deal.”

So if you want to sell your home or buy a new property it seems there is no time like the present. Why not call us today and let us help you make that a reality.

Article taken in part from www.hoa.org.uk

Important Information
All property sales and the financial advice that surrounds them are as unique as the people engaging in the transaction. It is important to not make a decision without seeking professional advice. If you want to sell your home and are considering redecorating before marketing, speak to one of our Property Professionals to get the best advice for presenting your home for sale before making any investment.